Fed Holds at 3.75%-4.00% in 10-2 Vote

The Fed voted 10-2 on October 28, 2026, to hold its overnight funds rate at 3.75%-4.00%, per CNBC. That's the rate banks charge each other for one-night loans, and it feeds savings yields and credit card and adjustable-rate loan costs. Rate futures, bets on future rates, implied a 90% chance of a hold. September projections showed 4.00%-4.25% by year-end.